Is The Cost of Higher Education Unreasonably High?

IsThe Cost of Higher Education Unreasonably High?

IsThe Cost of Higher Education Unreasonably High?

Thecost of higher education has become unreasonably high despite thegovernment’s promise to subsidize it. Over the years, education hasbeen used to create a rift between the rich and the disenfranchisedsince it determines the economic wellbeing of the citizens (Hout,2012). In the recent past, the states have been consistent in cutting thebenefits per-student which has forced institutions of higher learningto increase the cost of tuition. The exorbitant fees have denied manystudents from low-income families the chance to pursue a collegeeducation. Lowering the cost of tuition by a significant percentagewould reduce student debt, allowing more students to attend college,which, in turn, would increase the amount of educated people in thecountry.

First,most people from the low-income families can hardly afford to paytuition. According to Hout (2012), whenthe government comes in to increase the funding of universities andcolleges, there is a hope that education will serve its purpose ofimproving the standards of living. However, it becomes a source ofdebts that students have to repay after college. According to Fincherand Katsinas (2016), thestudents’ debt increases by more than $2000 every second. Inaddition, more than 70% of the college learners owe the financialinstitutions by the time are through with college. Reducing the costof tuition can minimize the financial strain on families and newlyemployed graduates.

Secondly,reducing the tuition charges will attract more students to apply forthe available slots in the institutions of higher learning. In 2013,57% of the college applicants were compelled to reconsider theirfirst choices since they could not afford the fees(Fincher &amp Katsinas, 2016).The authors also indicate that another 4% was forced to call off theadmissions since they could not raise the required installments.Cutting on the fees could result in additional thousands of studentspursuing their preferred careers. Certain schools of thoughts arguethat there have been an increased number of college applicants overthe years despite the inflated cost of higher education. While thisis true, it is worth noting that every year is marked with asignificant number of people shifting to the middle class whileanother bigger population remains in poverty(Fincher &amp Katsinas, 2016).The increased enrollment should not justify the heightened costsbearing in mind that the fees are not standard for all families.

Inaddition, lowering college fees would improve the standards of livingand lead to more people shifting to the middle income. The highcollege charges have been a contributing factor towards financialdisenfranchisement among the citizens(Oliff et al., 2013).The level of education determines the occupation and income earned bythe citizens. Individuals without higher education occupy less payingpositions, pay meager taxes and contribute to the poverty cycle.Their standards of living can be traced back to the unaffordablecollege education. Contrary to the belief that availing loans tostudents can lead to more enrollments, it only contributes to agrowing debt that workers pay for extended periods (Oliffet al., 2013).

Conclusively,lowering the cost of tuition can scale down the student debt, allowmore students to attend college and help in raising the citizens’living standards. The poor have used education to climb the socialand economic ladder. However, it has not been the case since asignificant section of the population cannot people afford collegeand university education. The high cost of tuition is, therefore, notappropriate because individuals from low-income families strain toraise the required installments and struggle to repay the loans whenthey graduate.

References

Fincher,M., &amp Katsinas, S. (2016). Testing the limits of the priceelasticity of potential students at colleges and universities: hasthe increased direct cost to the student begun to drive down highereducation enrolment?. Journalof Higher Education Policy and Management,1-9.

Hout,M. (2012). Social and economic returns to college education in theUnited States. AnnualReview of Sociology,38,379-400.

Oliff,P., Palacios, V., Johnson, I., &amp Leachman, M. (2013). Recent deepstate higher education cuts may harm students and the economy foryears to come. Centeron Budget and Policy Priorities.